The Marriage of Gamification and Cryptocurrency
At the CSR Conference at LA Center Studio last week, we learned about four converging and disrupting technology/trends: 1) Gamification, 2) Virtual/Augmented Reality, 3) Cryptocurrency, and 4) Crowdfunding. This conference was put on by Matt Trainer, of “The Trainer Method” and “Consumer Reality Services”.
At the beginning of several sessions, the high-tech LED screen on stage showed the trialer of the 1997 movie “The Game”, starring Michael Douglas. What do you give to the man who has everything? Well, his brother, played by Sean Penn, bought him a custom tailor experience by a group called “Consumer Recreation Services”, which obvious inspired the name of Matt Trainer’s company. Michael Douglas life was spun into a harrow and life-changing adventure for a few days, but he didn’t know it was a game. It’s hard to imagine they could have actually orchestrated it, and kept the player safe, given all that he went through. But at the end, he was refreshed, and became a “new man” with a new lease on life.
Mark Hoverson gave a few talks on Gamification, and introduced his new book ” Reality Gamification: The Creator’s Guide To Transforming Our World.” Why was Mark qualified to speak on this timely topic? He has implemented his own WordPress gamification platform on at least two of his own brands: 1) Limitless, and 2) Invisible Empire, along with a program designed to help kids become entrepreneurs with “The Great Lemonade Crusade”.
In each of these platforms, people register and they get assignments and compete to get the tasks done. They can win prizes like a coffee cup, a backpack, a ring, or other SWAG. They may also have a deadline on their tasks, or they could even be kicked out of the system. Leaderboards and badges have been a part of gamifications. Even back to 1980 Atari games, winnners could put in their initials to be placed on the leaderboard of high scores, which probably encouraged a lot of additional quarters to be spent on playing those games in the video arcades of that era.
In the upcoming year, it will be easier than ever to now provide prizes in the form of cryptocurrencies. For example, BitShares is currently selling for about 7 cents a share. That’s a cheap prize to buy now, and it could be worth 1000 times that much in a year or two. So in other words, a share at 7 cents today, might be worth $70.00 or even $700.00 in the future. A company called BitSharea allows use to even create your own BitAssets in under an hour. For example, I have a site that teaches people the Hebrew language, so I could create a coin called HebrewHeroes or HebrewNuggets and give them away as prizes.
CSR has aligned with BitShares as the cryptcurrency of choice. It’s 1000s of times faster than the current BitCoin implementation, and all kinds of flexibilities built in. Stan Larimer and Michael Taggart from BitShares were at the conference, and it was Stan’s son, Dan, who basically created BitShares.
So gamification is fun, but how does that help you as a business person? If you sell an “info product” or a course, we know from statistics that a large percentage, even as much at 90% of the people that buy a product never use it. Back in the days of physical products, many never even unwrapped or unboxed it, or played the first cassette, audio-CD, or DVD. With online courses, people forgot they bought it. They might login once or twice. Other want to learn, but they get discouraged and quit.
By making learning a social game, it brings out the best in people. Some are really into the competition. Others just need the course broken down into simple steps they can follow. Each time they complete a task, they get some points, or a badge, or earn some SWAG item, then they get a release of dopamine and/or seratonin in their brains; and they come back for more. Look today at people who are addicted to their PlayStations and XBoxes. Some are known to lock themselves in a room and play all night or all weekend, or even be late to work because they are playing a game.
Gamification also increases the customer satisfaction, because now you have students who complete the course, and then achieve the desired benefits or outcomes of that course. Then they are happy they bought it, and more likely to refer you, your company, and your products to their friends. In Mark’s courses, posting on social media is even one of the tasks, in order to help make the course go viral. A happy customer is also likely to upgrade to more expensive products and buy future courses from you.
I will be working with Matt Trainer’s team on the upcoming July 4th launch of Mogul – which will a gamified course of how to make money on the internet, i.e. how to become a mogul (an important or powerful person). To learn more about it, there is a box on the right of this blog where you can sign-up to get notifications when it becomes available. It’s targeted for July 4th, so probably the week before that, we will have the first videos about what this game will be.